Caixin
Apr 13, 2018 06:34 PM
ECONOMY

Veteran China Banker Warns of 'Belt and Road' Risks

Li Ruogu, former chairman and president of the Export-Import Bank of China, attends the annual Boao Forum in March 2017. Photo: IC
Li Ruogu, former chairman and president of the Export-Import Bank of China, attends the annual Boao Forum in March 2017. Photo: IC

* Li Ruogu notes that many countries involved with the 'Belt and Road' initiative have high debts and low credit ratings

* Li points out that many of the countries hold “limited” attraction for foreign investors due to a lack of preferential policies in areas such as foreign exchange and taxes

The former head of one of China’s main lenders for projects related to the "Belt and Road" initiative issued a rare warning about the dangers of investing in many countries involved in the program.

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